The "invisible hand" refers to
a. how central planners made economic decisions.
b. how the decisions of households and firms lead to desirable market outcomes.
c. the control that large firms have over the economy.
d. government regulations without which the economy would be less efficient.
b
Economics
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Iggie took a university teaching job as an assistant professor in 1980 at a salary of $15,000 . By 2011, she had been promoted to full professor, with a salary of $70,000 . If the price index was 82 in 1980 and 225 in 2011, then what is Iggie's 1980 salary in 2011 dollars?
a. $5,400 b. $20,466 c. $26,158 d. $41,159
Economics
Assuming all excess reserves are loaned out, if the reserve ratio is 3.33 percent, the money multiplier will be equal to:
A. 0.67. B. 3.33. C. 6.67. D. 30.
Economics